Economy Minister modifies holiday proposal in Peru

The Minister of Economy and Finance, Elmer Cuba, has announced a change to the proposal regarding the shift of holidays in Peru, indicating that these could be rescheduled to fall on Mondays or Fridays instead of a specific day in the middle of the week. According to Cuba, this measure aims to reduce the productivity losses caused by midweek holidays.

In addition, the head of the MEF stated that the best date to implement these changes is being evaluated. He also mentioned that the government will allocate approximately S/2.5 billion to address the climate emergency in response to current difficulties.

Cuba noted that with upcoming labor and tax reforms, a reduction in labor informality in the country is expected, potentially decreasing from 70% to 50% over a period of five years. He also mentioned that work is underway to reactivate the Price Stabilization Fund for Fuels to achieve a reduction in fuel prices.